Shep Company’s records show the following information for the current year:


Beginning of year End of year

Total assets $ 53,200 $ 84,000

Total liabilities $ 23,600 $ 36,600


Determine net income (loss) for each of the following separate situations. (For all requirements, losses should be entered with a minus sign.)


a. Additional common stock of $4,600 was issued, and dividends of $8,600 were paid during the current year.

b. Additional common stock of $15,400 was issued, and no dividends were paid during the current year.

c. No additional common stock was issued, and dividends of $13,600 were paid during the current year.

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